About Hou Hai/Gu Lou/Nan Lou Gu Xiang
This massive area covers three distinct sub areas. Hou Hai, which translates to "back lake" is the entire area around the lake that was once directly outside the domain of the Forbidden City. Thus, it was a local lake and boasts fine restaurants, bars and shops all long the fringes, with boat rides available along with other activities during the day.
Gu Lou translates into "ghost street" and is famous for it's restaurants. The street is lined with red lanterns year round and offers a wide array of Chinese cuisine from all over the nation.
Perhaps the most popular area, though, is famous Nanluoguxiang, which translates into south drum and bell alley. This alley is a converted hutong (old traditional style home) neighborhood full of bars, shops and restaurants. For anyone visiting Beijing this is a must-see.